Buy and sell orders can be created in foreign currency. When the order is created, the currency code is automatically retrieved from the debtor or vendor. You should never post in mixed currencies to a foreign debtor or creditor. It makes no sense, as the balance in foreign currency is then a mix of different currencies. If you need to trade in mixed currencies, you need to create an account for each currency.
If you have created sales prices in currency on the inventory card, the price corresponding to the customer/sales order currency code is retrieved. If there is no sales price in the current currency, the sales price in default currency is converted to current currency. If there is no sales price in the default currency, sales price 1 is converted to the current currency.
Prices in currency Sales prices of goods can be given in currency. After the price, the currency code must be entered.
If no currency code is specified (a hyphen), the price is in the default currency.
The currency code on the sales order determines which price is retrieved. If a price exists in the currency of that sales order, then that price is retrieved. If not, the price in the default currency is converted to the sales order currency. If there is no sales price in the default currency, then sales price 1 is converted to the sales order currency.
NB! If specific customer and supplier price lists have been created in a given customer/supplier and item combination, this determines the price of the order line as first priority.
The advantage of creating prices in currency is that if an item is frequently traded in one or more currencies, it provides:- Always fixed prices in currency regardless of exchange rate.
- Always rounded prices rather than a price converted from standard currency to the current daily exchange rate, which may result in skewed decimals.
In addition to sales prices in currency in the inventory, you can create price lists in currency. That is, a completely separate price list with all the items you want in a given currency. Here under Lager/Maintenance/Customer price lists:
This allows you to manage the entire inventory with prices in currency. On the customer, specify which price list applies to the customer in the Price list field:
This allows you to assign a customer to a given price list. For example, if you trade with a customer in Euros, you have a price list in Euros and that's what the customer trades on. Or any other price list.
Exchange rate differencesIn Uniconta, exchange rate differences are automatically booked and calculated when the exchange rate has changed from the time of invoicing to the time of payment for purchase and sales invoices in foreign currency.
Other exchange rate differences must be handled manually in the accounts, e.g. investments, foreign accounts, etc. Only exchange rate differences related to open item edits are described below.
For exchange rate differences to be calculated and booked automatically, the following must be met:
- System account Exchange rate differences must be specified in the chart of accounts
- Offsetting is done via open item editing via the accounting journal or directly to the debtor account.